The Federal Reserve has introduced yet another emergency measure to ease the economic impact of the global coronavirus epidemic, injecting liquidity into money markets and mutual funds to meet growing demand for cash.
The Fed announced the new Money Market Mutual Fund Liquidity Facility (MMLF) late on Wednesday night, creating a program similar to a one rolled out during the 2008 financial meltdown. Managed through the Fed’s branch in Boston, the facility will help banks keep up with investors pulling their funds out of money markets.
@FederalReserve broadens program of support for the flow of credit to households and businesses by establishing a Money Market Mutual Fund Liquidity Facility (MMLF): https://t.co/PJ0ALuzzw3
— Federal Reserve (@federalreserve) March 19, 2020
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Read more here:: Global markets continue free fall as US Fed rolls out THIRD emergency program in 2 days & ECB announces €750bn ‘pandemic QE’
